It’s not that the Saints quarterback doesn’t value and appreciate the fact that he has arguably the game’s best tight end — or is it receiver? — on his roster. It’s more about Brees being a realist: If Graham holds out in an extended contract negotiations, the show can’t stop in New Orleans.

“I’d hate to not have Jimmy,” Brees told USA Today. “I’m very confident that a deal will get done. But if it doesn’t, you worry about what you do have and who you do have out there.”

An arbitrator will decide whether Graham should be designated as a tight end or receiver. It’s a big deal, amounting to a difference of about $5 million. Once that is determined, the two sides can begin talking about a long-term contract.